Shares of Amazon.com Inc. plunged Wednesday morning after a report that President Donald Trump is “obsessed” with the e-commerce giant and wants to “go after” the company.

News site Axios reported that Trump brings up Amazon when discussing tax policy and antitrust cases. The president reportedly hears from real estate friends that the Seattle-based online giant is destroying shopping malls, mom-and-pop stores and brick-and-mortar retailers, and he agrees with them.

According to an unidentified source that spoke to Trump, the president has “wondered aloud if there may be any way to go after Amazon with antitrust or competition law,” Axios reported.

Amazon stock fell 6.4 percent early Wednesday and ended down about 4 percent.

Trump has repeatedly posted on Twitter about Amazon. In August, he wrote that the company was “doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!”

Trump’s ire has also extended to The Washington Post, which is owned by Amazon CEO Jeff Bezos. The president has frequently referred to the Post as the “Amazon Washington Post.”

Daimler, BMW to merge services

Automakers Daimler and BMW have agreed to merge their transportation services businesses so they can expand offerings in ride-hailing apps, car-sharing, parking and charging electric cars.

The companies said they aim to become a “leading provider” of new ways to get around cities, where more people will see cars as a service they use when needed. Those businesses include car-sharing, an area where Stuttgart, Germany-based Daimler AG operates its car2go service and Munich-headquartered BMW AG has DriveNow. Customers use a smartphone app to find and unlock cars.

Also part of the deal is Daimler’s moovel startup, which allows users to book and pay for trains, cars, taxis and bikes.

Uber drops California testing

Uber has decided to stop testing autonomous vehicles on California public roads by letting its state permit expire on Saturday without renewing it.

If the ride-hailing service wants to return to the state, it will have to get a new permit and address any investigations into a crash involving one of its autonomous test SUVs in Arizona that killed a pedestrian, the California DMV said in a letter sent to the company on Tuesday.

California is the second state in which Uber won’t be able to test autonomous vehicles on public roads. On Monday, Arizona Gov. Doug Ducey suspended Uber’s self-driving vehicle testing privileges.

THE BOTTOM LINE

3.1% That’s the rise in February of the National Association of Realtors’ pending sales index, to 107.5 after tumbling 5 percent in January, the group said Wednesday. Despite the uptick, the index is still down 4.1 percent from a year earlier. Pending sales surged 10.3 percent in the Northeast, rose 3 percent in the South but eked out gains of just 0.7 percent in the Midwest and 0.4 percent in the West.